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His PhD project ‘Up and down’: Genoese financiers and their relational capital in the early reign of Philip II  (funded by the Spanish Ministry of Education) analyses  part of the Genoese social capital during the period of 1558-1560 to respond two main questions. The first issue addresses how the Genoese financiers managed the upstream and downstream credit flows that fuelled the Hispanic Monarchy in those crucial years of internal and external instability. Secondly, his thesis seeks to revise the role of specific individuals and institutions that served as brokerage links to lower investors. In doing so, his research is framed by a new way to understand the ‘state’ building process of the Hispanic Monarchy through a perspective more focused on individuals out of the ‘state’ apparatus rather than traditional approaches that emphasise the agency of certain royal-dependant institutions and agents.